In a policy meeting at the National Assembly in Seoul, Jin Sung-joon, the policy chief of the main opposition Democratic Party, emphasized that no additional budget should be allocated for a project related to potential offshore oil and gas reserves in the East Sea without the submission of relevant data. He raised concerns about the controversy surrounding Act-Geo, a US geoscience firm that provided a positive assessment of the potential reserves and had signed a contract with the state-run Korea National Oil Corp. despite being under operational restrictions for failing to pay franchise tax. Jin Sung-joon highlighted the substantial financial investment required for the project and stated that no budget increase would be permitted for the drilling exploration without the submission of pertinent data. The government had commissioned a study by the Texas-based geoscience research firm in February last year, which indicated the potential presence of oil deposits, estimated to hold up to 14 billion barrels of gas and oil, in the deep sea off the coast of Yeongil Bay in Pohang, approximately 260 kilometers southeast of Seoul. Jin Sung-joon's remarks reflect the growing concerns and controversies surrounding the project and the need for transparency and accountability in its implementation.